ID :
187662
Fri, 06/10/2011 - 09:15
Auther :
Shortlink :
https://oananews.org//node/187662
The shortlink copeid
China's trade surplus widens in May
HONG KONG, June 10 (Yonhap) -- China's trade surplus rose in May as exports remained strong, the Chinese customs authorities said Friday.
According to the General Administration of Customs, the country's trade surplus stood at US$13.05 billion last month, compared with $11.43 million in the previous month.
Exports rose 19.4 percent from a year ago to $155.69 billion and imports jumped 21.8 percent to $144.26 billion.
China's trade balance turned into the red earlier in February, recording the largest trade deficit since February 2004. However, it swung back into the black in March.
Last month's large surplus will likely put pressure on China to further appreciate its currency, as the U.S. has been arguing that China artificially lowers the value of the yuan, giving its exporters an unfair advantage in overseas markets. China has continuously resisted such arguments.
According to the General Administration of Customs, the country's trade surplus stood at US$13.05 billion last month, compared with $11.43 million in the previous month.
Exports rose 19.4 percent from a year ago to $155.69 billion and imports jumped 21.8 percent to $144.26 billion.
China's trade balance turned into the red earlier in February, recording the largest trade deficit since February 2004. However, it swung back into the black in March.
Last month's large surplus will likely put pressure on China to further appreciate its currency, as the U.S. has been arguing that China artificially lowers the value of the yuan, giving its exporters an unfair advantage in overseas markets. China has continuously resisted such arguments.
